XN000022-1979-12-28 — Page 6

FRIDAY, DECEMBER 28, 1979

5.

CHINA DYEING WORKS FIRST STARTED AS A SMALL FACTORY IN TSUEN WAN 30 YEARS AGO AND, THROUGH RESEARCH, EXPERIMENT,

DIVERS IF ICATION AND STEADY PERSEVERANCE, HAS DEVELOPED INTO ONE OF THE TOP DYEING PLANTS IN HONG KONG. MR. AKERS-JONES DESCRIBED THE COMPANY'S ACHIEVEMENTS AS SYMBOLIC OF THE GROWTH OF HONG KONG OVER THIS PERIOD.+

HE NOTED THAT THE COMPANY'S CHAIRMAN, MR. CHA CHI-MING, WAS ONE OF THE FIVE FOUNDERS OF THE YAN CHAI HOSPITAL IN 1959.

THEREFORE, HE SAID, THIS ANNIVERSARY WAS IMPORTANT FOR MANY REASONS.

+FOR THE COMPANY IT MARKS 30 YEARS OF REMARKABLE ACHIEVEMENT IT DEMONSTRATES THE ABILITY OF OUR INDUSTRY TO ADAPT AND INNOVATE IT EMPHASISES THE PRAGMATISM AND ENERGY OF OUR PEOPLE- AND IT REMINDS US, IN A SOCIETY WHERE WE HAVE TO CONCENTRATE SO MUCH ON MATERIAL PROBLEMS, OF THE NEED TO SHOW CARE AND CONCERN FOR THE SICK, THE HANDICAPPED AND THE ELDERLY, MR. AKERS-JONES SAID.

PRELIMINARY 1980 EXPORT QUOTAS ISSUED

*****

THE DIRECTOR OF TRADE, MR. PETER TSAO, SAID TODAY (FRIDAY) THAT THE PRELIMINARY 1980 QUOTAS HAVE BEEN ISSUED FOR THE USA, EEC AND CANADA TO COMPANIES WHICH QUALIFIED FOR THEM UNDER THE USUAL RULES.

MR. TSAO CONFIRMED THAT FINAL QUOTAS WILL BE ISSUED AS SOON AS SHIPMENTS MADE IN 1979 ARE VERIFIED. THIS IS EXPECTED TO TAKE PLACE NEXT MARCH OR APRIL.

FOLLOWING THE FINAL ALLOCATIONS OF QUOTAS, THE TRADE, INDUSTRY AND CUSTOMS DEPARTMENT WILL IMPLEMENT THE USUAL FREE QUOTAS SCHEMES TO DISPOSE OF THE UNALLOCATED BALANCE.

THIS BALANCE, MR. TSAO EXPLAINED, WILL BE CALCULATED ON THE BASIS OF THE DIFFERENCE BETWEEN THE 1980 QUOTAS AS SET OUT IN THE TEXTILE AGREEMENTS, AND THE QUOTAS ISSUED UP TO THE TIME OF THE FINAL ALLOCATION.

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